L&T Finance Limited has announced that both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) have granted their no-objection for the reclassification of Nabha Power Limited. This change will move Nabha Power Limited from the ‘Promoter Group’ category to the ‘Public’ category, as per SEBI regulations. This decision follows an application made by L&T Finance and is effective as of October 28, 2026.
Stock Exchanges Approve Promoter Reclassification
L&T Finance Limited has received formal approval from both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) for a significant reclassification of its promoter group. The exchanges have granted their no-objection to the application for reclassifying Nabha Power Limited from its current status as a ‘Promoter Group’ entity to that of ‘Public’. This approval was communicated via letters dated October 28, 2026.
Regulatory Compliance and Application Details
The reclassification is in accordance with Regulation 31A of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015. L&T Finance Limited had submitted an application for this reclassification on July 14, 2026. The company is now required to ensure continued compliance with all applicable provisions related to this change in promoter status.
Confirmation from Exchanges
The BSE, in its letter dated October 28, 2026, specifically noted the reclassification request and confirmed its no-objection. Similarly, the NSE issued its no-objection for the same application on October 28, 2026. Copies of these no-objection letters have been enclosed with the official disclosure to the exchanges. L&T Finance has requested that these actions be noted on record.
Source: BSE
